LNG shipments slump to four-year low in March, GECF report shows

Global liquefied natural gas (LNG) shipments fell by 6.8% year-on-year in March, marking the sharpest decline since July 2020, according to a report by the Gas Exporting Countries Forum (GECF).

Total LNG shipments in the final month of the first quarter dropped to 35.8 million tons, the report said, Russian media cites. 

The decline was attributed to disruptions linked to the conflict in the Middle East, which affected transit through the Strait of Hormuz and created logistical challenges for exports from major producers such as the United Arab Emirates and Qatar.

Against this backdrop, GECF member countries reduced their natural gas supply volumes by one-third to 11.44 million tons. This decline was partly offset by higher LNG exports from non-member countries, as well as a notable increase in re-exports.

Separate data highlighted continued growth in U.S. LNG exports. According to the U.S. Department of Energy, American LNG exports rose to 14 billion cubic meters in February, an increase of 21% compared with the same period last year. The European Union remained the primary destination, accounting for 72% of total U.S. gas exports during the final month of the winter season.

By Sabina Mammadli